Marketsworld is owned and operated by Markets The World Ltd, an Isle of Mann registered and regulated binary options broker. The company is located in Burleigh Manor, Peel Road, Douglass, The Isle Of Mann, IM1 5EP, Great Britain. They can be reached through live chat, email at email@example.com and by phone, number +44 (0) 1624 679 022. If you don’t want use up your phone minutes or pay international rates they have fax as well. Marketsworld is regulated by the Isle Of Mann GSC, the Gambling Supervisory Commission, and is technically a casino but a casino offering safe binary options trading.
Let’s take a closer look into their regulation since GSC is probably new to most people: Marketsworld are regulated all right, but by a relatively unknown regulatory authority: the Isle of Man GSC. After a little “investigation” I found out what GSC stands for: Gambling Supervision Commission and indeed, Marketstheworld Limited holds a GSC license since April 6, 2011. So they admit they are a gambling institution but although my first reaction as a trader would be to close the site and start looking for a broker, not a gambling agency, on second thought maybe the GSC regulation is better than no regulation at all. I’m not saying that complaining to the GSC would do you any good in case of a problem but at least it’s a legal authority and you have a fighting chance.
Is MarketsWorld a Scam?
Marketsworld is not a scam. They may seem a little different with the Isle of Mann regulation and all but that is OK. The broker has been operating with honesty and integrity the entire time, under the watchful eyes of its regulators. The only downside is that as a casino there are less protections for consumers than with a financially regulated broker but the difference is minimal.
Editor’s Note – Why does MarketsWorld Suck?
TTheir style is…amazing. Amazingly close to a casino. Yeah, I can feel the glamour immediately after entering the website and they hit me with all the “big guns”: I am shown the picture of a yacht, a supercar, a fancy limo in front of a red carpet (they forgot to show paparazzi around the limo) and of course, a glitter-ish girl. They couldn’t forget about the girl picture; after all, all the things a man-trader wants are there and that model is an important part of their marketing I guess. The real reason they might suck is because they only have high/low options, they only have short term/intraday expiries and the asset list is small, only 18.
Why MarketsWorld doesn’t Suck?
To be honest, I’ve been pleasantly surprised to find out they offer a Demo account. A real Demo account; and I can gain access to it by registering with just my name, a password and an e-mail (that e-mail doesn’t even need to be a real one). All brokers seem to be afraid to offer a Demo account and why they are so afraid of that is beyond my comprehension. Think about this: I go into a clothes store, I like a $200 jacket and I decide to try it on before buying it. Now, if the shop assistant would tell me that I have to give him $200 before I can try it on, I would probably tell him to shove off and I would leave that store, never to return. Markets World lets me try the jacket on before buying it and although this should be the standard in the Binary Options industry, unfortunately most brokers don’t offer this feature.
Marketsworld doesn’t suck for a couple of more reasons than just a demo account. First they are a regulated broker so are at least a little bit trustworthy. The other thing is that as a casino they are open to a much wider number of traders. What I mean is, they accept traders from all over the world. On top of that they have higher than average payouts, low minimum deposit and trade size, a free unlimited demo account and a decent platform.
Should I Open an Account with MarketsWorld?
Ok, let’s talk a bit about their platform: according to Markets World, it’s a custom platform built by them but to be honest it doesn’t really live up to the industry standard. I had to move closer to the monitor to actually see the price graph and there’s nothing wrong with my eyes but the charts are too small and the platform looks cheap to me. Once I place a trade a 14 second countdown starts and once that gets to zero, my trade is placed. I don’t see the meaning of this countdown since during that time I cannot cancel my trade; and even if I could, why does it have to be that long? However, once I click on the trade, they inform me about the strike price and that exact price appears in my “Active trades” list so I really don’t understand what the countdown really does. Another mystery is why I have to wait up to three minutes after an option expires to find out if it’s ITM or OTM. Can we move a bit faster?
Update August 2016: The platform is still subpar and no major improvements have been made. It looks like a beta version, with extremely limited features and unappealing interface. The only available options types are Higher or Lower and the expiries start at 10 minutes (no 60 sec trading, a fact that disappoints a lot of traders). The 14 seconds delay has been eliminated, which is a good thing but the platform is still clunky and slow.
Update February 2017 -Marketsworld is a very basic broker but a decent one, and a regulated one. They have a small asset list but it is filled with the names you want to trade and in the end, do you want to trade 100 assets at a broker who will keep your money even if you win or 18 at a broker you can trust? The list includes indices and commodities but is very heavily geared toward forex so if that’s what you like to trade you will not be disappointed. Trading is also a little limited, they don’t have all the exotic one touch, over/under or boundary options, just the standard high/low digital trade. Expiry is great for day traders, the shortest is 5 minutes, the longest is 2 hours with 30 minutes and 1 hour in between. To back it all up they also have a free demo account that never expires and can be reloaded if you wipe it out.
The minimum deposit, minimum trades size and payouts are also very nice. Minimum deposit is only $10 and can be made by wires, CC or most eWallets. The minimum trade size is only $1 which makes a $10 deposit something you can work with. The payout is what is really nice here, up to 90% in most cases with an average over 80%, much better than almost anywhere else you can trade. Withdrawals are easy and guaranteed by regulation, your money is always held in separate accounts and always available. Withdrawals are typical for the industry, 3 days to process and up to another 10 business days to show in your account if you use CC or wires. Ewallets are fastest and may reach your account in as little as 3 days from request.
Markets World Complaints
Overall we couldn’t find any worrying complaints about Markets World; in fact most of the people out there said good things about them but the opinions are mixed and there are some guys that complain about price manipulation. However, no clear evidence of that could be discovered by us.
Update February 2017 – Marketsworld still gets very few complaints and the ones it does get are about the platform and its limitations rather than the normal ones about pushy brokers, can’t make a withdrawal, bonus terms and useless signals. Be assured, we will keep up with this broker and update you as we learn new developments.
Markets World Bonus
Marketsworld has a number of attractive bonuses but the real bonus is this: Marketsworld has only ever offered bonuses as rewards for trading and never as a means to tie up your deposits. All bonus monies are held in a “bonus” account until you reach volume requirements. The best part is that you can always withdraw your money and it will never affect your bonus, all you have to do is trade 50X the bonus amount to get it. Bonuses include $10 no deposit bonus, first deposit cash match and a monthly rewards program.
Markets World Withdrawal
Marketsworld withdrawals are awesome because you get them, no joking. There are no fees unless you use wire transfers. It takes 2 days to process and at least 1 day to show into your account. Wires take the longest and may be a full business week once processing is completed. There are also no minimum, maximum or limits on withdrawals, you can make as many as you want as often as you are able.The minimum amount is $10, the lowest in the business. If you want to withdraw via wire transfer, they offer one free withdrawal per month and for any additional wire transfers made during the same month you will have to pay a $50 fee. Identification documents are only required “once you’ve withdrawn thousands of dollars in total” according to their customer support representative.
Markets World Extras
The free Demo account is by far an Extra. There are no strings attached, no questions asked. I am sorry that I have to consider a Demo account an Extra feature because it should really be common. But until more brokers offer it, it will remain an Extra and a good one I might add.
Markets World Ratings
User Friendly 16/20
Their website is offered in 9 languages including English, Russian, Italian, Spanish, French, German and a few more. So it covers some of the common languages. The trading charts are too small and there are some delays that I don’t understand but I certainly don’t consider those friendly at all.
Number of assets and expiry times 15/20
The asset list is pretty small and is mostly forex pairs so you will need to be a forex trader or want to trade forex to really make the most of it. Expiry is decent, all short term with 5 minute, 30 minute 1 hour and 2 hour choices.
Commissions, Support and Effective return 18/20
There are no commissions or fees for deposit or withdrawal except the 50 dollars charged if you want to make more than one monthly wire transfer withdrawal. The payout is an amazing 90% but to be honest I only saw that in their pictures and I couldn’t find it on any asset available to trade; they offer no OTM refund. The support is quite helpful and polite but at times they seemed too eager to finish the conversation.
Deposit, Payment and Bonus 18/20
Deposits are easy and can be made with wires, credit cards and a variety of eWallets. Payments are also easy and can be trusted due to GSC regulation. Bonuses are also offered and come with very nice terms, all are paid as rewards and not as up-front payments that tie up your account.
Website Extras 15/20
The Demo account rocks and I would give them a full 20/20 rating for the Extras… But the rest of the platform is so limited and elementary I had to take some points back.
MarketsWorld Overall Ratings 82 + Regulated GSC (+3) = 85/100